MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, January 13, 2009 Kranefuss' Team Stays Intact as BGI Swings the Ax Barclays Global Investors is cutting 300 jobs as part of a broader headcount reduction being implemented by its London-based parent, Barclays PLC. BGI's iShares business led by Lee Kranefuss, however, is not affected by the reduction, a person familiar with the situation told The MFWire. "We can confirm that we have begun a process to reduce headcount across some parts of investment banking and investment management to ensure that we are appropriately sized given the current market conditions," a Barclays spokesperson said in an e-mailed statement. "We will continue to hire selectively across those parts of the business that are growing." Aside from cutting 300 jobs at San Francisco-based BGI, Barclays is slashing 1,300 jobs at its investment bank unit, Barclays Capital, and 500 at its wealth management division. Printed from: MFWire.com/story.asp?s=20452 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |